Nintendo boss to cut pay in half after profit dive

Breaking News January 29, 2014 00:00

TOKYO - The head of Nintendo said Wednesday he would slash his salary in half after announcing a 30 per cent dive in nine-month profit on weak demand for its new Wii U console as gamers are enticed by cheap, downloadable games for mobiles.

President Satoru Iwata told reporters he would draw a reduced salary for five months to atone for the downturn, while other members of the board will take a pay cut of between 20 and 30 per cent.

When asked if his pay cut could extend beyond June, Iwata said: "I will make a decision after looking at the management situation at that time."